Posted on September, 9, 2024 at 08:37 am
The first days of September brought a dynamic turn in the development of the prices of the main grain commodities on the world stock markets , and the change was most noticeable in wheat, according to the experts of the Sofia Stock Exchange (SSB), BTA reported.
Despite a fast harvest in the US and an increased supply of Black Sea grain, heightened geopolitical tensions in the Middle East, unfavorable macroeconomic forecasts and poor data on the new European harvest sent quotes sharply back up.
The FOB (Free On Board) price of bread wheat in Chicago jumped sharply higher by as much as $21 to $239 a ton for September delivery. France also followed the upward trend with plus 9 euros to 218 euros per ton. Only Ukraine and Russia dropped quotes from last week by $2 and $3, respectively, to levels of $223 per ton in Ukraine and $215 per ton in Russia.
The movement of the price of corn in the US is also sensitively up - up $22 to $204 per tonne. In France and Ukraine, there was no change and the levels remained at 201 euros per ton and 200 dollars per ton, respectively.
The price of barley in Ukraine also remained unchanged at $185 per tonne for delivery in September, as well as rape on "Euronext" (Euronext) for November delivery, which after its sharp rise and subsequent collapse this week remained flat at €469.75 per tonne.
Crude sunflower oil contracts on the Rotterdam Stock Exchange for September delivery are now down $5 to $1,090 a tonne, following a sharp advance earlier. Refined sugar also continued its long-term swing and after days of gains, is now back down with a loss of $15.40 for October delivery, reaching $541.80 a tonne on the London Stock Exchange.
At the Sofia Commodity Exchange, trade in grain goods also moved. Bread wheat from old harvests, which was available in particularly large quantities, reached a price of BGN 314 per ton EXW delivery (the seller's obligation is only to ensure that the buyer has access to the goods). At this price, deals were concluded for over 90,000 tons. This year's crop was in demand at the higher price of BGN 370 per ton.
For forage wheat, the demand was at BGN 340 - 362 per ton, and the sellers were at BGN 400 per ton. There was also an offer of forage barley at a price of BGN 320 per ton.
The prices of basic goods remained stable at the same level as the initial prices. Oil in bottles was sold at BGN 2.20 per liter, as well as unrefined oil at BGN 1,750 per ton. The offer of yellow peas in big backs of one ton continued at a starting price of BGN 1,200 per ton.
In the sub-circle "Industrial goods" of SSB there were deals for diesel for PCC from 2224.42 to 2369.39 BGN/thousand l, for propane butane gas in the range of 958.33 – BGN 1,060/thousand liters, for natural gas at BGN 87.91/Mwh and for methane gas at BGN 1.73 per kilogram.
Source: FAKTI